Are There Short Sale Rules I Should Know? - 01/30/11 09:51 PM
Q: Are there specific short sale rules that I need to know before getting started?
A: Although lenders have their own guidelines, there are some short sale rules that apply across the board.
To short sell a house, most home owners can determine their qualifications using these few, simple short sale rules:
First, they should  determine if the sale of their property will cause them to be "short" on their mortgage payoff. By the nature of the transaction, they must be "Upside-Down" or "Under-Water" in their mortgage, owing more on the mortgage balance than the amount the property sale will bring … (2 comments)

What exactly is a Short Sale? - 01/28/11 09:39 PM
Question: What exactly is a Short Sale? I keep hearing talk about it and would like to know more.
Answer: A short sale is a loss mitigation solution. And usually, the only thing short about it is the name, and the amount of payoff the home owner's lender or mortgage investor is willing to accept to settle the debt and release title to a new buyer.
A short sale is completed through negotiations with the existing lender(s) in which the lender(s) agrees to accept less than the full amount owed to satisfy the debt, allowing the debt to be paid off … (0 comments)

What's Better? A Short Sale or a Loan Modification? - 01/21/11 10:40 PM
Question: What exactly is a loan modification? Is it a better choice for me than a short sale?
Answer: As the name implies, a loan modification or mortgage modification is an adjustment or alteration made to an existing mortgage loan. These adjustments to the terms of a mortgage, are intended to assist a homeowner who has gone delinquent on the mortgage, or one for whom mortgage difficulty appears unavoidable.
Among the most common modifications are adjustment to payment terms, adjustment to the interest rate or shifting of delinquent amounts to the back end of the loan for repayment later in the … (2 comments)

Why Would My Lender Approve a Bank Short Sale? - 01/19/11 07:31 PM
Q: Why would my lender approve a bank short sale?
A: A bank short sale can save the lender money while benefiting all involved.
In many metro Atlanta, Gerogia neighborhoods, short sales are on the rise. And for good reason.
A bank short sale is a win-win-win-win situation when a borrower is in an upside-down position in their mortgage yet must sell, or if the borrower simply can no longer continue making the mortgage payments for any number of possible reasons.
A four-way win? Yes.
In short sales, the seller is relieved of the home they cannot afford and the lender … (4 comments)

 
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Elva Branson-Lee, CDPE - South and East Metro ATL - Short Sales

Best Atlanta Short Sales

Ellenwood, GA

More about me…

Solid Source Realty GA

Address: 772 Pointe South Pkwy, Jonesboro, GA, 30238

Office Phone: (770) 475-1130 x 8988

Cell Phone: (678) 855-5238

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Author Bio: Elva Branson-Lee, CDPE, CIAS, IMSD, is the Executive Team Leader of the Best Atlanta Short Sales Team, Atlanta's premier short sales specialists. She is also the author of "Avoid Georgia Foreclosure."



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